Suppose That in the Short Run, the Firm in Problem

question 7

Multiple Choice

Suppose that in the short run, the firm in Problem 3 which has production function F(L, M) must use 9 machines. If the cost of labor is $10 per unit and the cost of machines is $4 per unit, the short-run total cost of producing 60 units of output is

• A) $420.
• B) $600.
• C) $240.
• D) $572.
• E) $286.

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Definitions:

Visible Light

The portion of the electromagnetic spectrum that is visible to the human eye, ranging approximately from 380 to 750 nanometers in wavelength.

Photosynthetic Pigments

Molecules found in plants and other photosynthetic organisms that absorb light energy for use in photosynthesis, including chlorophyll and carotenoids.

Carotenoids

Pigments found in plants and some microorganisms that play a role in photosynthesis and provide color to fruits and vegetables.

Chlorophyll

A green pigment found in the chloroplasts of plants, algae, and some bacteria, crucial for photosynthesis.